Interpret Market Trends and Developments
Analyse Consumer Behaviour
Report prepared for
Teacher, MKTNG & ADV, GCIT
Student Name: Mikaylah Murphy
Student ID: 4100247810
Due Date: Friday, 11 June 2010
Table of Contents
1.2Scope and Rationale1-1
1.3Sources of Information1-2
2.1What is Playboy2-3
2.2The man behind the magazine2-3
2.6Characteristics and Data2-7
2.7Features and Benefits1
4.3.1Market segment “Something better”6
4.3.2Value segment “Young optimists”7
4.3.3Value segment “look at me”8
5Factors influencing buying behaviour9
6Product performance (Past and present)11
6.1Shifting Values and Emerging Markets [pic]15
6.2Strategy Shift [pic]15
7Focus of Appeal16
This report was commissioned to investigate the consumer behaviour, characteristics of buyers and potential buyers of a leading men’s magazine, namely Playboy Magazine, which is distributed in 150 countries around the world.
A detailed examination of the products benefits and features has been undertaken to identify the magazines quality, virtue and unique selling points.
An introduction into the Playboy brand and the founder ‘Hugh Hefner’, is discussed to provide a well rounded understanding of the foundations in which playboy are built upon.
When analysing the characteristics of the target market, three market segments (as stipulated by Roy Morgan Value Segments) were identified to describe the existing and potential buyers of playboy magazine. These groups included: “look at me” ™, “Young Optimist”™ and Something Better”™. These value segments identify how people think, their aspirations, self-images, and their overall general behaviour which in turn can determine and predict the purchasing behaviour of Playboy magazine. Other factors which influence buyer behaviour include: Cultural, Social Psychological and Personal factors.
Based on these findings, an emotional focus of appeal for the product was chosen. Playboy utilises an emotional appeal to shape the minds of young men, by stimulating the consumers’ emotions, social and psychological needs through the promotion of the “Playboy Philosophy” and content of the magazine.
The report concludes with an examination of the products past and present sales performance and market position in order to predict future marketing direction and trends of the magazine.
This report sets out to examine the consumer behaviour, characteristics of buyers and potential buyers of a leading men’s magazine, namely Playboy Magazine, in order to design an innovative promotional strategy aimed at:
✓ Maximising sales
✓ Increasing market share
✓ Successfully introducing the product
✓ Increasing product popularity
2 Scope and Rationale
The report covers an analysis of the Playboy brand, the founder, and its core tangible product; the Playboy magazine, its features and benefits to the consumer; its target segment; the market place, the factors influencing consumer behaviour; the purchase motivators and the magazine’s performance history until today.
The introduction looks at the development of the brand and its founder in order to illustrate how these elements combined, created the Playboy Philosophy, to which set the foundation for the brands reputation and recognition, as well as producing one of the largest-selling men’s magazines in...